New companies law to boost IPO activity in UAE |GulfNews.com:
"A reduction in free float for an Initial Public Offering (IPO) is likely to encourage more companies to list on UAE bourses than overseas. The new law introduces corporate governance standards in line with the country’s international peers.
The new Companies Law, announced on Wednesday, has reduced the minimum free float for any company to go public, to 30 per cent from the earlier 55 per cent, a move that could help companies to list on bourses.
“This reduction is a positive step, and it was a big obstacle earlier for getting listings to the UAE and it was a reason they went to the London Stock Exchange. With that the local bourses would look much more attractive to do an IPO. This new rule would make it a lot easier and smoother here,” said Jaap Meijer, managing director at Arqaam Capital."
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